General Motors taps new president as 4Q sales fall
General Motors has tapped company veteran Mark Reuss as president, effective immediately.
Reuss currently is in charge of the global product group as well as the Cadillac brand, and will now add the responsibility for quality organization.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| GM | GENERAL MOTORS CO. | 58.52 | +2.85 | +5.13% |
The announcement was made on the same day that GM reported its vehicle sales for the quarter.
The automaker reported new vehicle sales fell 2.7 percent in the fourth quarter, with declines across most of its brands.
The Chevy Equinox, Chevy Traverse and the GMC Terrain saw sales increase.
GM saw sales declines for its passenger car models as consumers favor larger, more comfortable vehicles, although sales fell for some popular large vehicles such as the Chevrolet Suburban, Cadillac Escalade and GMC Yukon.
For the year, GM said sales dropped 1.6 percent to 2.95 million vehicles.
In November, the automaker announced it would end production at five factories in the U.S. and Canada, cutting about 15,000 jobs.
Shares of GM were off 1.8 percent in the premarket.